Newport Beach, CA (May 12, 2021) – SRS Real Estate Partners has negotiated four new leases at San Gorgonio Village, a newly developed shopping center totaling approximately 122,000 square feet (sf). The center is located at the southeast corner of 2nd Street and Commerce Way in Beaumont, CA, one of the Inland Empire’s fastest growing submarkets.
Totaling 43,067 sf, the leases include Grocery Outlet, Planet Fitness, Sherwin Williams, and Raising Cane’s. Other tenants in the center include Cinema West (opening May 21, 2021), In ‘N Out, ULTA, Five Below, and Jersey Mike’s, among others. The center is approximately 95 percent leased with two spaces remaining.
“SRS’ Southern California tenant rep team is thrilled to have brought so many great tenants to the shopping center and to have played such an integral role in its success,” said Garrett Colburn, EVP & Managing Principal with SRS.
He added, “Beaumont is a natural fit for most tenants that we represent due to the strong retail synergy and regional gravity to the growing trade area, and we’re fortunate to work with some of the strongest tenants in the region. Despite setbacks from the pandemic, discount tenants like Planet Fitness and Grocery Outlet remain industry leaders, and Raising Cane’s is only getting stronger as we continue to open at least one new location per month on its behalf throughout the region.”
Following is information on each of the four leases.
- The Grocery Outlet lease totals 18,000 sf. SRS’ Garrett Colburn and Townsand Cropsey negotiated a 10-year lease on behalf of the tenant. The store opened in 2020.
- The Planet Fitness lease totals 17,500 sf. SRS’s Colburn and Cropsey negotiated a 10-year lease on behalf of the tenant. It opened last month.
- The Sherwin Williams lease totals 4,000 sf in a freestanding building. SRS’ Chris Kehl and Zach Leffers negotiated a 10-year lease on behalf of the tenant. The store will be opening for business mid-2021.
- The Raising Cane’s lease totals 3,567 sf in a freestanding building. SRS’ Colburn and Scott Landgraf negotiated a 15-year lease on behalf of the tenant. The restaurant opened in 2020.
The center’s owner and developer, Wood Investments Companies, was represented by Phil Berry and John Romm of Commercial West Brokerage, Inc.
SRS continues to represent some of the nation’s most active and successful tenants as it grows its market share and successfully negotiates new leases with active tenants within existing and ground-up shopping centers throughout Southern California.
About SRS Real Estate Partners
SRS Real Estate Partners is the largest real estate company in North America exclusively dedicated to retail services. Headquartered in Dallas with more than 25 offices worldwide, SRS’ strong reach and international presence provide the company with unparalleled knowledge both globally and domestically. As a result, clients of SRS have a competitive edge through a full range of offerings including brokerage services, corporate services, development services, and investment services. Since its inception in 1986, SRS has built a strong foundation in the retail real estate world and grown into one of the industry’s most influential and respected leaders. Our success is measured in the achievement of our clients’ objectives, satisfaction and trust. For more information, please visit srsre.com.